Frequent question: What business classification is real estate?

Is real estate a high risk Naics code?

You Can Avoid High Risk NAICS Codes

Do so before you begin to build your NAICS codes. Here are some high-risk codes you should be aware of: … Real estate investing (this is potentially where the NAICS code for real estate would be – the NAICS code for real estate is 531390 for Other Activities Related to Real Estate)

What is lessors of real estate?

A lessor refers to a person or an entity that grants a lease. When the lease granted is for temporary use of real property, the term most commonly used for “lessor” is “landlord.” In commercial real estate, the lessor grants use of a commercial space, under a lease agreement.

What is a Naics code for business?

NAICS stands for North American Industry Classification System, and it is used throughout North America to classify businesses with a six digit number based on the primary type of work the business performs. You can find the NAICS code that most closely matches your business here:

Is real estate considered a high risk industry?

Real estate industry is an attractive target of money launderers. There are no regulators for monitoring the flow of money in this sector. … There are no obligations that require real estate agents and companies to carry out more detailed due diligence on customers.

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What businesses are cash intensive?

Cash-Intensive Businesses—Overview

  • Convenience stores.
  • Restaurants.
  • Retail stores.
  • Liquor stores.
  • Cigarette distributors.
  • Privately owned automated teller machines (ATM).
  • Vending machine operators.
  • Parking garages.